Crude tanker companies’ 4Q17 performances
All crude tanker companies have now released their 4Q17 results. Navios Maritime Midstream Partners (NAP) was the first company to release its 4Q17 earnings. The partnership released its earnings results on January 31, 2018.
Tsakos Energy Navigation (TNP) was the last company to release its 4Q17 results. Tsakos released its results in March 2018.
Crude tanker industry
The crude tanker industry had a hard time in 2017. The fall in crude tanker rates, which started in 2017 and peaked in 3Q17, has continued into 1Q18. The primary drivers of the fall have been OPEC’s (Organization of the Petroleum Exporting Countries) oil production cuts, low cargo demand, and high fleet growth.
Just like crude tanker rates, crude tanker stocks have also had a hard time in the last three months. The following are the stock returns for crude tanker stocks over the last three months as of March 29, 2018:
In this series, we’ll explore the highlights of major crude tanker companies’ 4Q17 results. We’ll compare their 4Q17 performances in terms of key financial metrics to see which companies performed better than others during the quarter.